PART IV

INVESTMENT COMPANY ACT OF 1940

DEFINITION OF AN INVESTMENT COMPANY

EXCEPTED COMPANIES-COMPANY PRIMARILY ENGAGED THROUGH CONTROLLED COMPANIES CONDUCTING SIMILAR TYPES OF BUSINESSES IN THE BUSINESS OF MANAGING AND OPERATING A STREET RAILWAY SYSTEM FOR THE TRANSPORTATION OF PASSENGERS

Where a company was organized to and is engaged primarily through controlled companies in the business of managing and operating a street railway system for the transportation of passengers, in which business there is invested substantially all of its assets, held that it is primarily engaged through controlled companies conducting similar types of businesses in a business or businesses other than that of investing, reinvesting, owning, holding, or trading in securities . . . Page 112.

COMPANY PRIMARILY ENGAged in the BUSINESS OF EXPLORATION, DEVELOPMENT AND MINING

Where a company was organized to carry on mine exploration and development work and is engaged, directly and through controlled companies, in the business of exploration, development and mining, in which business its assets are primarily employed, held that it is primarily engaged directly and through controlled companies conducting similar types of businesses, in a business or businesses other than that of investing, reinvesting, owning, holding, or trading in securities ... Page 944.

EXEMPTED TRANSACTIONS

TRANSACTIONS BETWEEN AFFILIATED PERSONS

Proposed transactions involving the purchase of affiliated persons of an affiliated person of a registered investment company of securities from a company controlled by such registered investment company, held, to meet the standards of Section 17 (b) of the Investment Company Act of 1940 . . . Page 140.

The term "Act" as used in Part IV of this Digest refers to the Investment Company Act of 1940.

27 S. E. C.

U. S. GOVERNMENT PRINTING OFFICE: 1953-212868

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